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Lajam Sports Q3 profits fall to 63M riyals
Lajam Sports Company's financial results for the second quarter of 2026 showed a 12.5% decline in net profit year-over-year, reaching 63 million riyals compared to 72 million riyals in the same period last year. The decrease is primarily due to a 2% decline in gross profit margin resulting from expansion plans that exerted pressure on margins, along with a 17% increase in administrative and sales expenses, and a 32% rise in financing costs driven by higher average loan balances. Despite this, the company recorded a non-recurring gain of 3.1 million riyals during Q2 2025, which was not repeated in 2026. Additionally, total profits for the first half of the year declined by 21.68% to 112 million riyals, compared to 143 million riyals in the previous year.
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